Deka Immobilien Buys Office Buildings in London, Paris for $248 Million

Deka Immobilien, the real estate investor funded by Germany’s state-owned savings banks, bought offices in London and Paris for more than $248 million.

Deka paid 97.1 million pounds ($151.8 million) for a building close to the 02 Arena in London’s Docklands, it said in a statement today. The building, purchased from Quintain Estates & Development Plc and Lend Lease Group, is occupied on a 20-year lease by Transport for London, the agency responsible for the U.K. capital’s bus and subway services, the Frankfurt-based fund said.

Deka, the property unit of investment fund manager Dekabank Deutsche Girozentrale, paid about 75 million euros ($97 million) for the Opera Gramont office complex in Paris’s financial district, it said in a separate e-mailed statement today. The building is occupied by Coty Inc., the world’s largest fragrance company. It was bought from a unit of Spain’s Banco Santander SA.

To contact the reporter on this story: Peter Woodifield in Edinburgh at pwoodifield@bloomberg.net.

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